Stock market today: Dow, S&P 500, Nasdaq under pressure as key ADP jobs data shows weakness

Market Overview - US stocks experienced a decline, particularly in the tech sector, due to concerns over AI demand and a surprising drop in private-sector employment [1][2] - The Dow Jones Industrial Average remained stable, while the S&P 500 fell by approximately 0.2% and the Nasdaq Composite decreased by 0.4% [1] Company-Specific Developments - Microsoft (MSFT) shares dropped over 2% after reports indicated the company is reducing its AI sales quotas, raising doubts about the projected demand for AI [2] - Major semiconductor companies, including Nvidia (NVDA), Broadcom (AVGO), and TSMC (TSM), saw declines of nearly 1% [2] - Marvell Technology (MRVL) stock rose by 7% following a positive sales outlook and an acquisition deal with Celestial AI [5] - American Eagle Outfitters (AEO) shares surged by 16% due to a strong start to the holiday shopping season [5] - Macy's (M) shares fell despite reporting a surprise profit, as the sales outlook was deemed disappointing amid ongoing restructuring efforts [5] Employment and Economic Indicators - The ADP report indicated that private employers lost 32,000 jobs in November, contrasting with expectations for a modest gain, primarily due to a significant pullback from small businesses [3] - This employment data may influence expectations for a rate cut from the Federal Reserve in the upcoming week [3] Cryptocurrency Market - Bitcoin showed signs of recovery, reaching a two-week high above $93,000 after a prolonged slump that saw it dip below $83,000 [4]